LIST OF ACCOUNTS TO CHOOSE FROM:

Allowance for Uncollectible Pledges Receivable

Cash

Contribution Revenue-With Donor Restrictions

Contribution Revenue-Without Donor Restrictions

No Entry Required

Pledges Receivable

Accounting for Contribution Revenue Hannon University, a private, nonprofit university, receives a letter from an alumnus who pledges $2,800,000 for the establishment of a center for public service. The donor expresses the wish that the amount be used in the next fiscal year, but the donor's letter does not identify any barriers to be overcome or identify a right of release. Based on history, Hannon University expects to collect 95% of the pledged amount. 1. Record the journal entry that would be recorded upon receipt of the letter. Enter accounts in order of magnitude (largest to smallest amounts), debits first. Account Debit Credit 0X 0 X To record the pledge from an alumnus. 2. How would the pledge have been recorded if Hannon University were a public university? The pledge would not have been recorded